Chancellor Rishi Sunak presented a Summer Economic Update on Wednesday 8 July 2020. In his speech he stated that the government has taken decisive action to protect the UK economy but people are anxious about losing their job and the rise in unemployment.
Chancellor Rishi Sunak has pledged a £750 million package to help charities during the COVID-19 pandemic.
Sunak announced the measure last night in an attempt to address concerns that some charities are facing collapse.
As part of the scheme, £370m will go to small local charities that are working with vulnerable people during the coronavirus crisis.
An increasing number of businesses are planning to furlough staff over the next week, according to the British Chambers of Commerce (BCC).
The coronavirus job retention scheme enables employers to obtain grants to cover up to 80% of furloughed workers' wages, up to £2,500 a month.